The New Orleans City Council has approved an ordinance requiring a minimum $10.55 an hour wage starting next year for anyone working for a company getting significant contracts or subsidies from the city.

The council voted 6-0 Thursday for a "living wage ordinance" requiring companies with city contracts worth $25,000 or more to pay their workers at least $10.55 an hour and provide them a week's paid leave annually. Companies that receive city subsidies such as tax breaks or reduced rents worth $100,000 or more would face the same requirements.

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The federal minimum wage is $7.25 an hour. Mayor Mitch Landrieu raised the minimum wage for city workers to $10.10 an hour last year.

There was no voiced opposition. Most who spoke favorably described the move as a first step.